ASA sitting pretty, boasts healthy income of R85m
Athletics South Africa (ASA) yesterday signed off its 2016 financial statements, officially marking the end of a decade-long drowning debt.
Just 12 months earlier the accumulated deficit stood at R13.2-million, but that has blossomed into a R4.81-million excess.
The federation posted total income and revenue of more than R85-million, but the top brass yesterday warned this was largely the result of extraordinary events, such as hosting the 20th African Championships in Athletics in Durban last year June.
ASA president Aleck Skhosana said the biggest changes in the position came from writing off big debts, such as the more than R10-million owed to pole-vaulter Jan Blignaut who was injured in a 2009 meet, where ASA had failed to pay insurance.
Blignaut has been paid, while debts of R6-million to the SA Revenue Service and R3-million to the SA Sports Confederation and Olympic Committee (Sascoc) had been negotiated downwards drastically, to the tune of R1-million.
When the board took over in mid-2014, total debt stood at R27-million...